Well, light penetration is one factor. This is one of those questions that can only be answered in general terms, because every rule you set seems to have an exception. But generally lakes are larger and deeper; and have ecosystems that are shaped by those factors. Ponds are smaller and shallower; and have ecosystems shaped by those factors.
Here is a link to the EPA discussion on the subject.
http://www.epa.gov/bioindicators/aquatic/lake-r.html
Now, we could also get technical and discuss the difference between a lake and a reservoir.



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